Related Article: Bidders Snatch Up Delinquent Taxes

Excerpt taken from the Rockford Register Star

“Property owners snubbed Winnebago County when it came time to pay more than 3,000 property tax bills this year, but more than two dozen savvy middlemen hope to make a tidy profit helping the county recoup the lost revenue.

The county hosted its annual tax sale Tuesday where buyers — hailing from Rockford to Byron to California — snatched up $7,672,968 worth of delinquent taxes and attached up to 18 percent interest to the bill. If not for the annual tax sale, and for buyers such as Ed Beasley, that money wouldn’t flow to school districts, cities, villages, fire districts and other local taxing bodies…”

To view the full article, visit the Rockford Register Star website.